Global Pulse

分类： business

  • Skoda recalls some cars in UAE, Saudi Arabia due to faulty airbags

    Skoda recalls some cars in UAE, Saudi Arabia due to faulty airbags

    Skoda Auto has initiated a critical safety recall for multiple vehicle models across the United Arab Emirates and Saudi Arabia, addressing potentially lethal defects in driver-side airbags supplied by Takata Corporation. The voluntary recall campaign follows global concerns that these airbag inflators could deteriorate over time, particularly in high-temperature climates, and deploy dangerously during collisions.

    The defective components contain gas generators that may become unstable with age due to environmental factors including heat and humidity. In the event of an accident, these compromised inflators pose dual threats: they might rupture their metal housing, propelling sharp fragments throughout the vehicle cabin, or fail to provide adequate protective force during deployment, increasing injury risks.

    Saudi Arabia’s consumer protection authorities formally announced the recall on January 22nd, identifying 256 affected vehicles including Octavia (2013-2020), Rapid (2012-2017), Fabia (2018-2021), Superb (2015-2017), and Kodiaq (2016-2021) models. Skoda representatives confirmed that all vehicles manufactured before 2018 potentially contain the faulty equipment.

    The Czech automaker has established complimentary replacement procedures at authorized service centers, with repairs requiring approximately two hours to complete. Vehicle owners can verify their car’s status through Skoda’s regional websites by entering their 17-digit Vehicle Identification Number (VIN), typically located on windshield markings or registration documents.

    This recall expands upon ongoing global safety initiatives addressing Takata airbag concerns, which represent one of the largest automotive safety campaigns in history. Skoda urges affected customers to promptly contact authorized dealerships in both countries to schedule free replacements, emphasizing that immediate action is crucial for occupant safety.

  • Kenya to host intl investment conference on indigenous knowledge

    Kenya to host intl investment conference on indigenous knowledge

    Kenya is poised to host its inaugural International Investment Conference and Trade Fair on Indigenous Knowledge Intellectual Assets this April in Murang’a County. This groundbreaking initiative represents a strategic effort to transform documented traditional knowledge into viable market innovations by creating crucial connections between local communities and global investors.

    The conference will serve as a platform to showcase Kenya’s rich indigenous intellectual assets and their potential to drive inclusive socio-economic transformation. Participants from 13 pilot counties, including micro, small and medium enterprises alongside community-based asset owners, will present their innovations to potential investors for product development and commercial exploitation.

    Exhibitions will feature diverse traditional technologies, medicinal products, cultural foods, and creative arts. Stephen Munania, Deputy Governor of Murang’a County, emphasized during the media launch that the conference would catalyze industry development across multiple sectors including tourism, publishing, storytelling, medicine, and arts crafts.

    “The sacred sites where our ancestors worshipped remain meaningless unless their stories are properly narrated. We must preserve the narratives of our communities’ origins and historical inter-tribal interactions,” Munania stated, highlighting the challenge of converting indigenous knowledge into sustainable investments, employment opportunities, and value chains.

    Mary Gikungu, Director-General of the National Museums of Kenya, revealed that the indigenous knowledge documentation and digitization project aligns with the Protection of Traditional Knowledge and Cultural Expressions Act 2016. The initiative ultimately aims to cover all 47 Kenyan counties through phased implementation.

    The National Museums of Kenya has implemented comprehensive research and intellectual property policies to safeguard market-ready innovations derived from documented indigenous knowledge. “We are actively engaging potential investors whose participation is essential for transforming heritage-based enterprise concepts into tangible realities,” Gikungu confirmed.

    Edwin Abonyo, Board Chair of the National Museums of Kenya, emphasized the project’s objective to leverage the country’s previously underutilized heritage and traditional knowledge resources, with current operations spanning 13 counties and plans for nationwide expansion.

  • French energy giant TotalEnergies resumes Mozambique $20 billion project as insurgency slows

    French energy giant TotalEnergies resumes Mozambique $20 billion project as insurgency slows

    French energy conglomerate TotalEnergies has officially recommenced operations on its monumental $20 billion liquefied natural gas (LNG) initiative in northern Mozambique’s Cabo Delgado province. The project, which represents one of Africa’s most substantial energy investments, had been suspended since April 2021 due to escalating insurgent violence that resulted in thousands of fatalities and displaced over one million residents.

    At a ceremony attended by Mozambican President Daniel Chapo at the Afungi project site, TotalEnergies CEO Patrick Pouyanné declared the formal conclusion of force majeure status and announced anticipated initial gas deliveries for 2029. The company projects a significant acceleration of operational activities throughout the coming months.

    The security situation that previously jeopardized the project has substantially improved through coordinated military interventions. Mozambique secured support from the Southern African Development Community (SADC) coalition forces and Rwandan defense personnel. While SADC troops completed their mandate and withdrew earlier this year, Rwandan security forces maintain their presence, contributing to stabilized conditions despite occasional isolated clashes.

    President Chapo, elected in 2024 with commitments to economic revitalization and enhanced national security, characterized the project’s revival as transformative for regional perception. He emphasized that operational resumption demonstrates Cabo Delgado’s recovery beyond security challenges and represents a crucial advancement in national economic strategy.

    The LNG development is projected to generate substantial governmental revenue through Mozambique’s minority stake, with additional investment participation from India, Japan, and Thailand. TotalEnergies anticipates employing over 4,000 workers, with 80% representing Mozambican nationals receiving specialized vocational training in technical fields including electrical systems and carpentry.

    Concurrently, TotalEnergies has pledged humanitarian assistance following catastrophic flooding that claimed approximately 300 lives across Mozambique, South Africa, and Zimbabwe earlier this month, according to United Nations assessments.

  • Gold demand hits record high on Trump policy doubts: industry

    Gold demand hits record high on Trump policy doubts: industry

    Global gold demand reached unprecedented heights in 2025, propelled by profound investor anxiety surrounding the economic policies of U.S. President Donald Trump. According to the World Gold Council’s (WGC) annual report released Thursday, demand for the precious metal surpassed 5,000 tonnes, with its total value skyrocketing to $555 billion—a staggering 45 percent annual increase.

    The primary catalyst for this historic surge has been market uncertainty. WGC analyst Krishan Gopaul identified geopolitical apprehensions, particularly regarding the new Trump administration’s unpredictable actions, as a key driver. The year was defined by a sweeping tariff offensive against major U.S. trading partners like China, the European Union, and India, which destabilized long-established global free trade principles.

    Compounding these concerns, President Trump’s public critiques of U.S. monetary policy ignited fears over the Federal Reserve’s independence and contributed to a weakening U.S. dollar. In response, investors and central banks worldwide aggressively turned to gold as a premier safe-haven asset. While the volume of central bank purchases saw a slight dip from the previous year, their total value climbed by 13 percent. Gold now constitutes over 20 percent of central bank reserves, a proportion not witnessed since the early 1990s.

    Enthusiasm for gold-backed exchange-traded funds (ETFs) further amplified demand. Gopaul noted that these financial instruments have democratized access to gold, allowing investors to acquire it as easily as company stock. This collective movement culminated in gold prices nearing a historic $5,600 per troy ounce. Liam Fitzpatrick, head of metals and mining research at Deutsche Bank, attributed a fresh price surge this week to a combination of safe-haven demand, escalating geopolitical tensions, and a strategic shift by investors from traditional currencies and bonds into tangible hard assets.

  • Gulf Crypto 2.0: How the GCC is shaping the future of digital asset regulation

    Gulf Crypto 2.0: How the GCC is shaping the future of digital asset regulation

    The Gulf Cooperation Council (GCC) is fundamentally transforming its approach to digital assets, evolving from speculative trading environments toward sophisticated regulatory frameworks designed for institutional capital. This strategic pivot positions the region as a global leader in crypto governance rather than merely a market for retail trading activity.

    Regional transaction data underscores this transformation’s timing. According to Chainalysis, Middle East and North Africa crypto flows achieved unprecedented monthly volumes in late 2024, exceeding $60 billion in December alone. This substantial activity compelled GCC nations to choose between tolerating unregulated growth or establishing professionalized markets—with the UAE and Bahrain leading the professionalization charge.

    Dubai’s Virtual Assets Regulatory Authority (VARA) exemplifies this new approach through comprehensive activity-based regulation. Rather than operating as a conventional crypto regulator, VARA functions as a market architect—establishing precise conditions for operational licensing, permitted activities, and firm behavior across supervision and enforcement domains. Two critical innovations distinguish VARA’s framework: comprehensive activity-based regulation matching large financial centers’ supervisory standards, and stringent marketing controls implemented in October 2024 to mitigate consumer risks associated with aggressive promotion.

    Bahrain complements Dubai’s scale with regulatory agility through its Central Bank (CBB) Regulatory Sandbox. This controlled environment enables fintech firms to test innovative solutions with defined oversight, creating a pipeline from experimentation to full licensing. Bahrain’s early adoption of formal crypto regulations in 2019 established the nation as a testbed jurisdiction where new models can be trialed, supervised, and scaled responsibly.

    The GCC’s regulatory advancement extends beyond exchange operations to encompass tokenization infrastructure and stablecoin frameworks. Abu Dhabi Global Market’s Financial Services Regulatory Authority finalized governance for Fiat-Referenced Tokens effective January 2026, while Qatar Financial Centre established legal recognition for digital assets including tokenization protocols and smart contracts in 2024.

    This collective regulatory development transforms the Gulf into what industry observers term a ‘crypto governance laboratory’—multiple jurisdictions developing parallel frameworks with complementary strengths. Dubai emphasizes supervisory depth, Bahrain accelerates controlled innovation, ADGM develops institutional structures, and Qatar codifies tokenization frameworks. Even Oman has moved to formalize supervision through VASP registration requirements.

    The fundamental shift involves recasting digital assets from speculative instruments to regulated financial infrastructure. This institutional framing attracts deeper capital pools—asset managers, corporate treasuries, and family offices—whose risk committees prioritize policy clarity over market excitement. While challenges remain regarding cross-jurisdictional coordination and enforcement consistency, the GCC’s unmistakable direction toward regulated digital asset infrastructure positions the region as a emerging global benchmark for institutional crypto adoption.

  • Time for the US to let Chinese EVs roll in

    Time for the US to let Chinese EVs roll in

    In a surprising policy reversal, prominent economic commentator Noah Smith advocates for the United States to permit the sale of Chinese electric vehicles despite previously supporting restrictive trade measures against China. This position emerges following Canada’s groundbreaking decision to dramatically reduce tariffs on Chinese-made EVs from 100% to 6.1%, while implementing import quotas starting at 49,000 units annually.

    The Canadian-Chinese agreement represents a significant geopolitical divergence from US policy, which maintains 125% tariffs on Chinese EVs alongside bans on vehicles connected to Chinese software ecosystems. This separation reflects deteriorating US-Canada relations and Canada’s strategic calculation that reduced American auto investment in China diminishes the risks of policy independence.

    Smith argues that American self-interest actually demands embracing Chinese EVs to accelerate the nation’s stalled electric transition. While global EV adoption accelerates, US progress has faltered due to terminated subsidies, Tesla’s declining popularity, and traditional automakers’ retreat from electric commitments. Ford recently announced $19.5 billion in charges related to scaling back EV ambitions, while General Motors recorded $1.6 billion in similar charges, and Stellantis abandoned plans for electric Ram pickups.

    This retreat risks creating ‘Galapagos syndrome’ for American automakers, potentially isolating them from global markets as combustion engines become obsolete. More critically, failure to develop domestic electric technology capabilities threatens national security, since batteries and electric motors power essential military hardware including drones.

    Chinese manufacturers offer sophisticated, affordable EVs featuring futuristic designs, ultra-fast charging, and semi-autonomous capabilities even in budget models. Their competitive pricing stems from complete domestic supply chains and massive production scale. Market evidence from Mexico demonstrates that even with 50% tariffs, Chinese EVs gain significant market share through superior quality and innovation.

    Smith proposes that controlled admission of Chinese EVs would benefit America through multiple mechanisms: stimulating charging infrastructure development, demonstrating EV advantages to consumers, and forcing domestic manufacturers to innovate rather than retreat. Historical precedent exists in how Japanese automakers’ US expansion ultimately created 400,000 American jobs and transferred manufacturing expertise.

    The commentary suggests implementing joint venture requirements and local content incentives to ensure technology transfer and component sourcing, potentially rebuilding America’s industrial capacity in critical electric technologies. Even former President Trump recently endorsed allowing Chinese automakers to establish US operations employing American workers.

    While acknowledging legitimate cybersecurity concerns regarding data collection and potential sabotage capabilities, Smith contends these risks can be managed through monitoring requirements, domestic cloud hosting mandates, and component sourcing regulations rather than complete prohibition.

    The analysis concludes that Canada has demonstrated a viable path forward that the US should refine and implement, recognizing that the benefits of controlled market access outweigh manageable security concerns in accelerating America’s electric transportation future.

  • Fed set to pause rate cuts despite political pressure

    Fed set to pause rate cuts despite political pressure

    The United States Federal Reserve is poised to maintain its current interest rate levels in Wednesday’s policy decision, marking a strategic pause in its recent easing cycle despite intensifying political pressure from the Trump administration. This anticipated halt follows three consecutive rate reductions that have brought the benchmark rate to a range of 3.50-3.75%, as central bankers seek more conclusive economic indicators before further monetary adjustments.

    The Fed’s cautious stance emerges against a backdrop of conflicting economic signals: robust GDP expansion and relatively stable employment figures contrast with persistent inflationary pressures and cooling labor market conditions. This economic duality has created a complex landscape for policymakers, compelling them to adopt a wait-and-see approach rather than continuing their previous rate-cutting trajectory.

    The central bank’s independence faces unprecedented challenges from the White House, where administration officials have launched investigations into Fed Chair Jerome Powell regarding headquarters renovations and sought to remove Governor Lisa Cook over mortgage fraud allegations. Powell recently issued a rare public rebuke, characterizing these actions as threats to the institution’s operational autonomy.

    Economic analysts note that while political pressure for aggressive rate cuts continues to mount, the fundamental economic data doesn’t justify immediate further easing. EY-Parthenon’s chief economist Gregory Daco observed that ‘the hurdle for additional near-term cuts has risen,’ with officials requiring clearer evidence of disinflation or significant labor market deterioration before considering additional rate reductions.

    The Federal Open Market Committee’s internal deliberations have now shifted from whether to pause rate cuts to determining what specific economic conditions would warrant future monetary easing and at what pace these adjustments should occur. Although some dissent remains likely from recently appointed officials like Governor Stephen Miran, most analysts anticipate relatively unified support for the pause decision amid the current economic uncertainty.

  • New ‘Payday Super’ laws to hit Australian businesses with major cash crunch

    New ‘Payday Super’ laws to hit Australian businesses with major cash crunch

    A landmark shift in Australia’s superannuation payment system is poised to significantly enhance retirement savings for millions of workers, while simultaneously presenting substantial cash flow challenges for the small business sector. Effective July 1, 2024, federal regulations will mandate that employers disburse superannuation contributions concurrently with salary payments, abolishing the existing 90-day quarterly payment window.

    The Australian Taxation Office (ATO) has characterized this policy modification as a “once in a generation change” designed to combat the pervasive issue of unpaid superannuation. Treasury Department projections indicate that a median-income 25-year-old worker could accumulate approximately $6,000 additional retirement savings—representing a 1.5% enhancement—through the accelerated compounding effect of fortnightly contributions compared to quarterly deposits.

    ATO Deputy Commissioner Emma Rosenzweig emphasized the regulatory benefits, stating: “This reform enables significantly faster identification of non-compliant employers. The elimination of quarterly accumulation prevents businesses from accruing substantial debts they might subsequently struggle to settle.” While the ATO pledges collaborative support for businesses adapting to the new system, officials acknowledge enhanced capacity to detect deliberate non-payment.

    Despite approximately 40% of enterprises already utilizing more frequent than quarterly superannuation payments, the transition poses particular difficulties for the remaining 60%. Employment Hero CEO Ben Thompson acknowledged the employee benefits while highlighting severe financial implications: “While positive for workers’ compounding growth, our modeling indicates an average cash flow impact of $124,000 per business. Most small operations lack such liquidity reserves.”

    Thompson revealed that 87% of businesses using their platform currently leverage the quarterly payment period for temporary cash flow management, with 26% anticipated to encounter financial strain under the new regime. This has raised concerns about potential employment market repercussions as businesses adjust to the revised fiscal responsibilities.

    The ATO has disseminated comprehensive preparatory guidelines urging employers to initiate compliance planning immediately, warning against last-minute implementation attempts.

  • Fears of new US-Iran conflict fuel record-breaking surge in gold price

    Fears of new US-Iran conflict fuel record-breaking surge in gold price

    Gold markets witnessed a historic surge on Wednesday as the precious metal shattered previous records, briefly touching an unprecedented $5,602 per ounce before settling at $5,542. This remarkable rally represents the second consecutive day of record-breaking performance, following Tuesday’s breakthrough of the $5,000 threshold.

    The dramatic price movement stems from escalating geopolitical tensions between the United States and Iran. Market analysts attribute the surge to reports that former President Trump is considering renewed military action against Iran following collapsed negotiations regarding Tehran’s nuclear program and ballistic capabilities. Trump amplified these concerns through his Truth Social platform, explicitly warning of potentially devastating consequences if Iran refuses to negotiate.

    Concurrently, monetary policy developments contributed to gold’s attractiveness. The US Federal Reserve’s decision to maintain current interest rates, combined with the US dollar hitting its weakest position in four years, created ideal conditions for gold’s ascent as a safe-haven asset.

    Investment strategist Justin Lin of GlobalX ETFs noted striking parallels between current market conditions and the 1970s gold boom, when prices exploded from $35 to $800 per ounce over a decade. While acknowledging differences in inflation volatility—particularly the absence of 1970s-level oil price shocks—Lin identified similar underlying drivers: heightened geopolitical uncertainty and declining confidence in currency stability. He characterized the current environment as reflecting a fundamental structural shift in the global order, driving sustained demand for portfolio diversification through gold ownership.

  • ‘Game, set and match’: Huge number of Australians to be smashed on rate hikes

    ‘Game, set and match’: Huge number of Australians to be smashed on rate hikes

    Financial markets are overwhelmingly anticipating another interest rate increase from the Reserve Bank of Australia, potentially delivering another blow to millions of mortgage holders already facing economic pressure. With the RBA’s February 3 meeting approaching, consensus is building around a potential 25-basis-point hike that would push the official cash rate from 3.60% to 3.85%.

    According to Roy Morgan research, such a move could push an additional 41,000 Australian mortgage holders into financial distress, bringing the total to 1.23 million households classified as ‘at risk.’ Should the RBA implement two consecutive rate hikes totaling 50 basis points, that number would surge to approximately 1.32 million mortgage holders, representing 27.2% of all Australian homeowners with mortgages.

    The classification of ‘at risk’ applies when mortgage repayments exceed 25-45% of a household’s after-tax income, factoring in the standard variable rate and original borrowing amount. This financial pressure comes amid concerning inflation data from the Australian Bureau of Statistics, which showed headline inflation climbing to 3.8% annually in December, up from 3.4% in November.

    Key drivers of this inflationary surge include electricity prices soaring 21.5% as government rebates were phased out, meat prices experiencing double-digit increases, and services inflation rising to 4.1% annually. Notable contributors to services inflation included domestic holiday travel costs (up 9.5%, partially attributed to the Ashes cricket series) and rising rents increasing by 3.9%.

    Economic opinions remain divided on the appropriate response. Betashares chief economist David Bassanese stated, ‘All up, it appears to be game, set and match for a rate rise at the February policy meeting.’ However, AMP chief economist Shane Oliver advocated for patience, suggesting the RBA should determine whether recent inflation figures represent a temporary fluctuation rather than a sustained trend before implementing further rate increases.

    Oliver explained the mechanism of rate hikes: ‘People have less money to spend, so it may not be the case that local government rates or electricity prices come down because of interest rates but something else will come down because a 25 basis point rise will cost someone with the average mortgage $110 a month.’